Welcome to our dedicated page for Alexander's news (Ticker: ALX), a resource for investors and traders seeking the latest updates and insights on Alexander's stock.
Alexander's Inc. reports developments for a New York City real estate investment trust with five properties. Company news centers on quarterly and annual operating results, net income, funds from operations, regular dividends on common shares, and the timing of SEC reports and related conference-call disclosures conducted through Vornado Realty Trust, the manager of Alexander's operations.
Recurring updates also cover property-level lease and financing matters, including agreements tied to 731 Lexington Avenue in Manhattan and debt transactions involving New York City retail and shopping-center assets. These announcements frame Alexander's as an owner and operator whose public disclosures are closely tied to tenant leases, mortgage financing, and cash flows from its property portfolio.
ALEXANDER’S, INC. (ALX) announced the exercise of a purchase option by IKEA Property for its Paramus, New Jersey property, with an anticipated closing in Q4 2021. The purchase price is set at $75 million, and after repaying a $68 million mortgage, the company expects around $6 million in net cash proceeds. The projected financial gain from this transaction is approximately $60 million, with a tax gain of about $63 million. Alexander’s does not plan to distribute a special dividend from this sale.
ALEXANDER'S, INC. (NYSE: ALX) reported strong financial results for Q1 2021, with net income of $17.9 million ($3.49 per diluted share), a significant increase from $4.6 million ($0.89 per diluted share) in Q1 2020. Funds from operations (FFO) reached $25.8 million ($5.03 per diluted share), up from $23.7 million ($4.64 per diluted share) year-over-year. The company collected approximately 95% of the rent due from tenants during this period. Total revenue for Q1 2021 was $56.2 million, compared to $54.1 million in the same quarter last year.
Alexander’s, Inc. (NYSE: ALX) has declared a quarterly dividend of $4.50 per share, payable on May 21, 2021, to shareholders of record on May 10, 2021. This announcement reassures investors of the company's commitment to return value while managing its portfolio of seven properties in the greater New York City area.
Furthermore, potential risks affecting future performance include property improvement costs, tenant financial health, and the continuing impact of the COVID-19 pandemic.
ALEXANDER’S, Inc. (NYSE: ALX) will file its quarterly report on Form 10-Q for the period ending March 31, 2021, with the SEC and release earnings on May 3, 2021, before NYSE opens. Vornado Realty Trust (NYSE: VNO), managing Alexander’s operations, will conduct a conference call on May 4, 2021, at 10:00 a.m. ET to discuss earnings. The call can be accessed at 888-771-4371 (domestic) or 847-585-4405 (international), using passcode 50145196. Alexander’s operates seven properties in the NYC area.
ALEXANDER’S, INC. (ALX) reported its financial results for Q4 and the year ended December 31, 2020. Net income for Q4 2020 was $18.4 million ($3.60 per share), an increase from $14.4 million ($2.82 per share) in Q4 2019. Funds from operations (FFO) for Q4 2020 reached $25.4 million ($4.96 per share), up from $24.6 million ($4.81 per share) in the same quarter previous year. However, net income for the full year decreased to $41.9 million ($8.19 per share) from $60.1 million ($11.74 per share) in 2019. FFO for the year fell to $82.5 million ($16.11 per share) from $99.7 million ($19.47 per share) in 2019.
Alexander’s, Inc. (NYSE: ALX) will file its annual report on Form 10-K for the fiscal year ending December 31, 2020, on February 16, 2021, prior to the NYSE opening. The company, managed by Vornado Realty Trust (NYSE: VNO), will also announce its fourth quarter and full-year earnings on this date. A quarterly earnings conference call will be held on February 17, 2021, at 10:00 a.m. ET, discussing key financial metrics and operational updates for Alexander's, which operates seven properties in the New York City area.
Alexander’s, Inc. (NYSE: ALX) declared a quarterly dividend of $4.50 per share, to be paid on February 12, 2021, to stockholders on record as of February 1, 2021. This dividend reflects the company’s ongoing commitment to return value to its shareholders. As a real estate investment trust, Alexander's owns seven properties in the greater New York City area, contributing to its financial stability.
ALEXANDER’S, INC. (ALX) reported its Q3 2020 results, showing a net income of $6.6 million or $1.29 per diluted share, down from $16.5 million or $3.22 a year ago. Funds from operations (FFO) for Q3 2020 were $15.4 million or $3.00 per diluted share, compared to $25.2 million or $4.92 in Q3 2019. For the nine months ended September 30, 2020, net income was $23.5 million (or $4.59 per diluted share), down from $45.6 million (or $8.92) the previous year. Approximately 95% of rent was collected for Q3 2020.
ALEXANDER'S, INC. (NYSE: ALX) has declared a quarterly dividend of $4.50 per share, to be paid on November 20, 2020. Stockholders on record by November 9, 2020 will be eligible. This announcement reinforces the company's commitment to returning value to its shareholders. Alexander’s operates seven properties in the greater New York City area, solidifying its position in a prime real estate market.
ALEXANDER’S (NYSE: ALX) has secured a $94 million financing for The Alexander, a 312-unit residential project in Rego Park, Queens. This interest-only loan has a fixed rate of 2.63% and matures in November 2027. The property is part of a larger complex developed by the company. Alexander’s, a real estate investment trust, operates seven properties in the greater New York City area.